NMDC gains on transferring 10.10% equity share capital of NINL to Tata Steel Long Products

NMDC is currently trading at Rs. 109.80, up by 1.15 points or 1.06% from its previous closing of Rs. 108.65 on the BSE.

NMDC 390x260
NMDC 390×260

The scrip opened at Rs. 109.90 and has touched a high and low of Rs. 110.35 and Rs. 108.70 respectively. So far 85489 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 186.45 on 30-Jul-2021 and a 52 week low of Rs. 101.60 on 23-Jun-2022.

Last one week high and low of the scrip stood at Rs. 111.25 and Rs. 106.40 respectively. The current market cap of the company is Rs. 32251.32 crore.

The promoters holding in the company stood at 60.79%, while Institutions and Non-Institutions held 28.69% and 10.51% respectively.

NMDC has successfully sold and transferred 10.10% of the issued and paid-up equity share capital of Neelachal Ispat Nigam (NINL) to Tata Steel Long Products (TSLP), the successful bidder selected through the two-stage auction procedure involving a competitive bidding process, run under the aegis of Department of Disinvestment & Public Asset Management (DIPAM), for a consideration determined in accordance with and subject to the terms of the Share Purchase Agreement, Escrow Agreement and other related ancillary agreements (Definitive Agreements).

NMDC is a state-controlled mineral producer of the Government of India. It is fully owned by the Government of India and is under administrative control of the Ministry of Steel.

Please share this news

Check Also

LG Electronics hosts grand finale of All India K-Pop Contest 2023

Udaipur : LG Electronics, India’s leading consumer durables brand, hosted the grand finale of the …